SCHEDULES
F1SCHEDULE 3ZCCT Payment plans for tax on certain transactions with EEA residents
Qualifying transactions
3
1
For the purposes of this Schedule each of the following is a qualifying transaction of a company (“the company concerned”)—
a
a disposal within sub-paragraph (2),
b
a transaction within sub-paragraph (3),
c
a transaction within sub-paragraph (4), and
d
a transfer within sub-paragraph (5).
2
A disposal is within this sub-paragraph if—
a
it is a disposal by the company concerned of an asset,
b
it is a disposal to a company (“the transferee”) that at the time of the disposal is resident outside the United Kingdom in an EEA state, and
c
it is a disposal to which section 139 or 171 of TCGA 1992 would apply were the transferee resident at the time of the disposal in the United Kingdom instead.
3
A transaction is within this sub-paragraph if—
a
it is a transaction, or the first in a series of transactions, as a result of which the company concerned is directly or indirectly replaced as a party to a loan relationship by another company (“the transferee”),
b
at the time of the transaction the transferee is resident outside the United Kingdom in an EEA state, and
c
it is a transaction to which section 340(3) of CTA 2009 would apply were the transferee resident at the time of the transaction in the United Kingdom instead.
4
A transaction is within this sub-paragraph if—
a
it is a transaction, or the first in a series of transactions, as a result of which the company concerned is directly or indirectly replaced as a party to a derivative contract by another company (“the transferee”),
b
at the time of the transaction the transferee is resident outside the United Kingdom in an EEA state, and
c
it is a transaction to which section 625(3) of CTA 2009 would apply were the transferee resident at the time of the transaction in the United Kingdom instead.
5
A transfer is within this sub-paragraph if—
a
it is a transfer from the company concerned of an intangible fixed asset,
b
it is a transfer to a company (“the transferee”) that immediately after the transfer is resident outside the United Kingdom in an EEA state, and
c
it is a transfer to which section 775(1) of CTA 2009 would apply were the transferee resident immediately after the transfer in the United Kingdom instead.
6
In this Schedule “transferee”, in relation to a qualifying transaction of a company, means the transferee referred to in sub-paragraph (2), (3), (4) or (5) (as the case may be).
Sch. 3ZC inserted (retrospective and with effect in accordance with Sch. 7 para. 4(1)(a) of the amending Act) by Finance Act 2020 (c. 14), Sch. 7 para. 2